The new head of investment, Li Xiaoyang, has a low-profile and pragmatic style, perhaps in line with Baidu's investment style, reporting directly to the firm's chairman and CEO, Li Yanhong.
Baidu Zhantou is the collective name of Baidu Group's Strategy Department, which is divided into three departments: Strategy Department, Investment and M&A Department and the Post-investment Department, mainly focusing on the group's strategy-related investments. Baidu Zhantou is considered to have a more conservative and cautious investment style.
In the past year, Baidu Zhantou has undergone several major personnel changes. In September 2020, Cai Xiang, the former vice president of TAL Education Group, joined Baidu as vice president in charge of strategic investment. In January 2021, Cai Xiang resigned, after serving for less than six months. Subsequently, Qi Fei, the former managing director of CICC's investment banking department, served as head of the strategic planning department, and the former head of strategy, Lu Yuan, was transferred.
There have been media reports that Li Yanhong's positioning of the strategic investment department is not a pathfinder in terms of seeking opportunities for the company, but a procurement department to coordinate and serve the main business development.
Li Xiaoyang graduated from Tsinghua University with a Bachelor of Engineering degree in Electrical Engineering and then studied at Cornell University with a Master of Science degree in Electrical and Computer Engineering. After entering the investment industry, he successively worked in SAIF Partners and 360 Strategic Investment Department and joined 58 Group in 2014 to participate in the team formation of the investment and M&A Department.